London

Venue and transport links

course-venue-pic
  • Aldgate East
  • The White Chapel Building
    5th floor
    10 Whitechapel High Street
    London
    E1 8QS
  • View venue
"I like that the public courses are supported by online training. I can learn at my own pace and time, which has helped increase my confidence in the work that I do." ~ research analyst, global financial institution

Who should attend the course?

Experienced Finance Professionals

Working for a leading financial institution means you will be working in a highly competitive environment. In order to stay ahead you will need to keep pace with your colleagues. AMT’s public courses ensure that you maintain and enhance the knowledge and skills you need to continuously deliver a professional level of service to your clients. Hence becoming more effective in the workplace and helping advance your career. Learn or refresh your skills in financial statement analysis, financial modeling and valuation, and stay ahead of the curve.

 

What courses complement this one?

Capital Markets

To get a comprehensive understanding of Capital Markets, study over 2 days:

 

 

Book both Capital Markets courses

Course details

Credit Analysis Fundamentals

Delegates gain understanding of the credit rating process by examining the assessment of both operational and financial risks of the business. By the end of the session, delegates derive a rating for a case company.

 

Learning outcomes

  • What is credit analysis?
  • Ratings scales
  • Default and recovery rates
    • Issuer and issue ratings
  • Purpose of credit analysis
  • Nature of credit risk
    • Asymmetric nature of credit risk
    • Difference between up/downside of equity and credit
  • Credit analysis - analytical approach
    • Key principles: cash based, forward looking and peer group
    • Evaluation of business and financial risks
    • How to weight different risks
  • Business risks
    • Key drivers of business risk and their identification
    • Macro, industry and company specific evaluation
  • Financial risk
    • Key components of financial analysis
    • Cash flow analysis from a credit point of view
    • Various cash flow concepts of rating agencies
    • Credit ratios: most common ratios and their application
    • Credit ratios according to the ratings category
    • Financial policy analysis
  • Rating Agencies: overview

Credit Analysis Issues

This program analyzes the financials from the credit perspective, making technical adjustments to the main numbers. Delegates analyze a variety of case companies by looking at the ratios and metrics used in the credit world. In addition, the session covers debt structuring issues.

 

Learning outcomes

  • Complex items from the standpoint of credit analysis
    • Pension obligations
    • Operating leases
    • Securitizations
    • Off balance sheet obligations
    • Hybrid securities: equity or debt?
    • Credit approach to adjustments to financial statements
    • Impact on credit quality
    • Rating agency view
  • Structural issues in credit analysis
    • The importance of structures and assessment frameworks
    • Notching up / down of debt
    • Contractual subordination
    • Structural subordination
    • Parent / subsidiary link
    • Rating agency methodology
    • Typical HY structures
  • Documentation - covenants 
    • Concept of covenants
    • Type and benefit of covenants

What will you receive on the course?

While this is a face to face training course, a blended learning approach is taken and delegates will be provided with access to AMT Online. Our study materials contain both the knowledge and practice materials required to assist with the learning process and help you in your job role. Course materials include:

 

  • printed course binder with copy of the slides
  • laminated summary sheets
  • 24/7 access to AMT Online (AMTO)
  • class recordings
  • course notes
  • quizzes
  • electronic homework/study files